Ministers announce key initiatives to boost Real Estate Industry in TN

“Of the 43 requests consolidated, we are pleased to say 25 of them are in progress. We also assure the industry your needs are looked into and we will offer the maximum support. We are also looking into the Building Height approvals and FSI etc. and an announcement should be made at the earliest opportunity, said, Thiru. S.Muthusamy, Honorable Minister for Housing & Urban Development, at the inaugural session of South India’s largest Real Estate Conclave – STATECON, organized by CREDAI Tamil Nadu. The theme of the two-day conference was Conservatism to Cosmopolitanism.

Thiru. P.K. Sekar Babu, Honourable Minister for Hindu Religious and Charitable Endowments and CMDA in his speech said, “The request for Single window clearance is on the cards. Between 2021-2023, 605 approvals were granted for NHRB when compared to 426 earlier. Also, layout approvals have grown from 197 to 305 and reclassification has increased by 300% based on plan approvals”. 

Mr. R. Ilankovan, President, CREDAI TAMILNADU, in his speech appealed to the Hon’ble Ministers at the conference to regulate, reduce, and limit the number of approvals so that the industry can grow quicker and achieve the targeted numbers, particularly DTCP approvals. Also, DTCP should give a revised master plan as the current ones are all out-dated”. 

“The recent global investors' meeting has proven to be a remarkable success, resulting in the signing of Rs. 6.36 lakh crore worth of Memorandums of Understanding (MoUs). This development marks a significant stride for Tamil Nadu as it sets ambitious goals to transform into a one-trillion-dollar economy,” said Mr. W.S. Habib, Chairman – STATECON 2024 in his welcome address.

“Tamil Nadu is truly a cosmopolitan state, given our diverse dependencies on various sectors such as career development, agriculture, tourism, healthcare, transportation, and the intricate network of logistics and finance circuits at the state level. Our industrial landscape boasts considerable diversity, setting us apart from states like Bangalore and Hyderabad, where their focus is often singular,” Mr.SrinivasAnkipatti, Sr Director- Tamil Nadu and Kerala, Knight and Frank India.